China Economic ReviewChinese budget retailer Miniso plans to spin off its Top Toy brand and list it in Hong Kong, riding a wave of investor enthusiasm for Chinese toymakers and highlighting the city’s renewed status as a global fundraising hotspot, reports the South China Morning Post. The business, which will remain a subsidiary of Guangzhou-based Miniso post […]
Washington and Beijing’s TikTok deal will hand ByteDance roughly 50% of the app’s American profits despite US shareholders owning the majority of the business, reports the Financial Times. The details of the deal, including precisely what percentage of the business ByteDance is handing over to US investors, suggest that the White House’s modest valuation of ByteDance, […]
President Donald Trump signed an executive order approving a deal that allows short-video app TikTok to keep operating in the US, resolving a drawn-out dispute with a novel structure that divides the app’s American business between parent company ByteDance Ltd. and US investors, reports Caixin. The deal, signed Sept. 25 at the White House, averts […]
China’s state buyers have emerged as one of the biggest groups of investors in the nation’s $12 trillion stock market, underscoring how government support underpins the market’s bull run, reports the South China Morning Post. Dubbed the national team and led by Central Huijin Investment, state buyers held a combined RMB 3.94 trillion ($553.1 billion) […]
China’s state-owned banks are bracing for deep pay cuts as a new round of compensation reform ripples across the financial sector, capping the salaries of mid-level executives and reshaping how money flows through the country’s biggest lenders, reports Caixin. The Finance Ministry has circulated guidelines to major state banks and financial firms, according to people […]